20220314 Premarket Prep Gold

14 Mar 20220314 Premarket Prep Gold

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

Gold 2022 Week 11 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price trad­ing with­in MN QHi and MN Supply
• W1
  • Price formed a Doji with longer sell­ing wick with­in W1 QHi and W1 Supply

Nar­ra­tive

• D1
  • D1 Bear Engulf with no imme­di­ate con­tin­u­a­tion break­ing down
  • Price train­ing with­in D1 QHi with no close below (yet)
  • Gap down on the day
• H4
  • H4 QHi reject­ed at H4 VWAP CAR
• Trend
  • Trend is Up 2/3
• Mar­ket Profile
  • Val­ues over­lap­ping but still print­ing lower
• LN Open
  • Open With­in Value
  • Bal­anc­ing Market
  • Asia non-trend day
  • 0.13xASR Tight IBR

Hypos

• Hypo 1
  • Long
  • Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble 3‑I Day
• Hypo 2
  • Short
  • Late-Sus­tained Auc­tion, prefer­ably price clos­ing below VAL
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Addi­tion­al Notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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